- Public sector potential early market for UK domicile
- Offshore captives could consider re-domesticating to UK
- Property, cyber and liability challenging lines for public sector
- PCCs could broaden access to captives for smaller organisations
Public sector organisations could become an important early market for the United Kingdom’s new captive regime, particularly as councils, utilities and other publicly funded bodies look for greater control over their risks.
The Prudential Regulation Authority (PRA) outlined its draft regulations (CP11/26) on 14 July for captive insurers in the UK, including a new “proportionate and tailored” solvency regime outside Solvency UK.
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